How to Negotiate Salary for Your Next Career Move
A salary negotiation can be an arduous process because it is about balancing what you consider your worth and what your employer believes they’re able to afford. If it’s done right, it can be positive for both parties that results in a better salary for the employee and greater employees’ engagement in their jobs. Here’s how you can make your salary negotiation a success.
Key Takeaways
- Before you make a salary offer study market rates and industry standards to make sure that the salary you request is reasonable.
- Gather information through the networking of colleagues, using online resources like LinkedIn Salary and Glassdoor, and reaching out to professional networks.
- Plan your talk points ahead of time, including education and certification, years of relevant experiences, achievements and results and unique skills qualities, industry knowledge, and potential for training.
- In the course of negotiations, you should be assertive and confident, yet flexible and open-minded. You should highlight tangible results you have achieved in previous positions.
- Keep a positive attitude throughout the conversation, and engage in active listening.
Do your research
Before you enter any salary negotiation, it’s important to conduct a thorough investigation of current market rates and industry standards to make sure that your salary proposal is realistic. Factors that might impact this may include levels of experience levels, the size of your company and the location of the company. (?). One way to gather information is through networking with colleagues or others in your chosen profession.
Research Online
With the help of online sources, like [LinkedIn SalaryWith the help of some online resources like [LinkedIn Salary (https: //www. linkedin. http://www.linkedin.com/salary) and [Glassdoor] (https http://www. glassdoor. com/Salaries/index. Htm) you will get a an additional perspective on the benchmarking range of salaries businesses pay for the same job. This will give you an idea of the current market rate plus few other facets of the position.
Your Network is Vital
Find out more about your situation by talking with colleagues who have been in similar roles or reaching out through professional networks and brainstorming with members within professional organizations.
Create Talk points
Preparing for any negotiation is always well spent. You’ll feel more confident in giving your argument if you have a set of talking points outlined ahead of time.
Here are some instances of things you might want to think about when negotiating your salary:
- Certification and education
- Years of relevant experience
- Achievements and results
- Particular skill set and traits (e.g. the ability to speak two languages)
- Know-how in the field
- Potential for training
A notepad or notebook can assist during conversations to ensure that one doesn’t miss any important details.
Be confident & concise
In a negotiation for a salary it’s crucial to appear confident and articulate. Be clear about your experience, achievements and job expectations. It’s important to maintain a positive tone throughout this conversation to ensure that your person who is hiring you feels that you’re not seeming hostile.
Highlight the tangible results
Simply stating one is driven, hardworking, and focused may not be enough for an appealing appeal. It is important to present clear and precise data regarding the ways in which previous jobs made distinction in businesses or the value of specific abilities which benefit organisation
Stay flexible
If the employer cannot agree to your salary request or compensation arrangement, remaining flexible and open-minded will allow for dialog. You can inquire about alternative incentives like performance-based bonus structures, instead of Base salary(? ).
Be sure remain professional throughout the negotiation process - regardless of how smoothly or not: getting too defensive or making unreasonable demands will likely cause a negative result for all parties that is.
Practice active listening
Listening is equally as important as communicating during these types of conversations. Do listen actively from any other participant during negotiations, observing the amount requested carefully and clarifying questions if needed, but keeping to the initial request. The goal is to arrive at acceptable outcomes.
Use the lessons you’ve learned away from these conversations and incorporate them into future negotiations you’ll likely take part in. By following the suggestions above, you will go in the right direction to increase the chances of achieving an agreement that is mutually beneficial.
| Your network is important | Speak to friends who’ve held similar roles or reach out via networking networks for professionals and brainstorming with members within professional organizations. |
| Make talking points | Certification and education, Years of relevant experience, Performance and accomplishments, unique ability and traits (e.g., bilingualism) and industry knowledge. Training potential |
| Be confident & concise | Speak clearly about your experiences your accomplishments and expectations for the job. Make sure you highlight tangible results. |
| Be flexible | Ask about alternative incentives like bonuses based on performance instead of Base salary. (?). Keep your professional conduct during the negotiation process. |
| Practice active listening | Listening is equally important as communicating during these types of conversations. Consider what you’ve learned away from these conversations and apply it to future conversations you’ll probably be involved in. |
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Frequently Answered Questions
What is the concept of salary negotiation?
The process involves discussing and deciding on the compensation plan for a position. During this process you will be able to discuss not only your base salary but also benefits like retirement plans, health insurance as well as other benefits.
Why is it necessary to bargain on salary?
Negotiating your pay can provide you a more secure financial future as well as show that you know your worth. This can help you keep money off the table.
How soon should I negotiate my salary?
It’s best to begin negotiating immediately after receiving an offer so that everyone is aware of what is being discussed. This way, the discussions are focused on negotiating the best terms, while avoiding any surprises.
What happens if I am satisfied with the offered package with no negotiation?
If you get an offer and you are satisfied with it, there’s no need to negotiate. However, it’s still essential to be clear about what the employer will offer with regards to things like rewards based on performance or reimbursements for career training.
What is the best way to negotiate my salary? changing careers?
Negotiating salary when you change careers may require more planning because your prior experiences may not be directly applicable or be a part of the new job. Find out what similar jobs in similar industries pay in order to get a solid knowledge of the realistic expectations you can set for you, based on the particular circumstances you face.
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